Answer in step by step with explanation.Don't use Ai and chatgpt. Ringgold Company experienced an event that affected its financial statements as indicated below:AssetsLiabilities + EquityRevenueExpense= Net incomeManufacturingoverhead(1,200)Work in processinventory1,200n/an/an/an/an/aWhich of the following accounting events caused the indicated effects on the company's accounting equation?Multiple ChoiceNone of these answers are correct.оEstimated overhead was charged to productionоUnderapplied overhead was written offActual overhead cost was incurred

Step 1: Let me explain this:1) Manufacturing Overhead Decrease: The decrease in Manufacturing…

Answered: Ringgold Company experienced an event…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter2: Financial Reporting: Its Conceptual Framework

Section: Chapter Questions

Problem 2E

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Kindly help me with general accounting question
The following information was taken from Benson, Incorporated's SEC filings. Number of employees Revenues (in thousands) Properties (in thousands) Total assets (in thousands) Units shipped (in thousands) Net earnings (in thousands) Req A Req C and D Required a. Indicate whether each line of information in the table above would best be described as being primarily financial accounting or managerial accounting in nature. c.&d. Based on the data identified as financial or managerial in nature from requirement (a), does it appear that Benson's 2019 fiscal year was better or worse than its 2018 fiscal year? e. Calculate the revenue per employee and revenue per unit shipped and to determine which year (2019 or 2018) Benson appeared to be using its facilities more efficiently. Complete this question by entering your answers in the tabs below. Req E $ 2019 Revenue per employee Revenue per unit shipped The company used its facilities more efficiently in December 31, 2019 926 $1,196,651 $793,203…
a. What do the accounting policies say in the annual report (footnotes) regarding the cost of revenue? What are the drivers to the cost of revenue and the trends? b. Are there any trends in sales and marketing expenses or research and development? Are these amounts reasonable for the type of business? c. Compare general and administrative expenses to similar companies. Are they reasonable? d. What is the ratio of net interest income (expense) to income from operations? Is this a safe ratio for the company? Why or why not?
a
Am. 282.
ANALYSIS. Indicate which accounting concept and principle is violated. Write the letter of your answer on the space provided for. d. Materiality e. Monetary Unit f. Cost g. Objectivity h., Time Period Concept i. , Matching а. Accrual Method b. Business entity C. Disclosure 26. A food company ordered a machine needed in the assembly line of its production department. Upon order, the machine was immediately listed as one of its assets vivo Y20i 2021.11.07 23:58
Specialty Department Stores chief executive officer (CEO) has asked you to compare the company's profit performance and financial position with the average for the industry. The CEO has given you the company's income statement and balance sheet, as well as the industry average data for retailers. Assets \table[[Current assets, %,.71.1%
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
I want this question answer general Accounting
Cumberland County Senior Services is a non-profit organization devoted to providing essential services to seniors who live in their own homes within the Cumberland County area. Three services are provided for seniors-home nursing, Meals on Wheels, and housekeeping. In the home nursing program, nurses visit seniors on a regular basis to check on their general health and to perform tests ordered by their physicians. The Meals on Wheels program delivers a hot meal once a day to each senior enrolled in the program. The housekeeping service provides weekly housecleaning and maintenance services. Data on revenue and expenses for the past year follow: Revenues Variable expenses Contribution margin Fixed expenses: Depreciation Liability insurance Program administrators' salaries General administrative overhead* Total fixed expenses Operating income (loss) Total $1,026,000 569,800 456,200 $ 73,320 47,180 124, 100 205, 200 449,800 6,400 Home Nursing $296,400 139, 600 156,800 9,120 22,100 43,500…
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